Accrual Automation

Key Aspects

• Accrual Template Creation: Administrators can create detailed accrual templates based on various rules and regulations.
• Template Application: Accrual templates can be applied to employee profiles, ensuring consistent and accurate leave accrual.
• Integration with Timecards: Accruals are automatically calculated and updated on employee timecards, ensuring real-time tracking.
• Customizable Settings: Templates can be customized with specific accrual periods, rates, eligibility criteria, and maximum limits.
• Comprehensive Tracking: Provides detailed tracking of accrued, used, and remaining leave balances.
• Automated Adjustments: Includes automated adjustments and carryovers, ensuring compliance with company policies and regulations.
• Detailed Reporting: Offers robust reporting capabilities, allowing administrators to monitor leave balances and accrual trends.
• Employee Visibility: Employees can view their accrual balances in their Bilflo account, ensuring transparency and compliance with labor laws.

Benefits

• Efficiency: Automates the leave accrual process, reducing administrative workload and minimizing errors.
• Compliance: Ensures compliance with state and federal regulations by accurately tracking leave accruals.
• Transparency: Provides employees with clear visibility into their leave balances and accruals, meeting labor law requirements.
• Flexibility: Offers customizable templates to accommodate different leave policies and accrual rules.
• Accurate Payroll: Ensures accurate leave tracking, which is crucial for precise payroll processing.

Best Suited For…

• Large Enterprises: Ideal for large organizations with complex leave policies and multiple employee types.
• Staffing Agencies: Suitable for staffing companies that need to manage leave accruals across various clients and contracts.
• Project-Based Organizations: Useful for companies where employees work on multiple projects and require precise leave tracking.
• Healthcare and Hospitality: Beneficial for sectors with stringent leave regulations and high employee turnover.
• Consulting Firms: Perfect for firms that need to manage leave accruals for a diverse workforce with varying leave policies.

Detailed Explanation of Settings:

• Enable Sick Time: A toggle to activate or deactivate sick time accrual for the employee.
• Accrual Period: Defines the frequency of accrual, such as per hour or per year.
• Hours Accrued per Hour Paid: Specifies the rate at which hours are accrued for each hour worked (e.g., 0.0333 hours per hour).
• Year Begins On: Sets the starting month and day for the accrual year (e.g., February 14).
• Begin Accruing Sick Time On: The date from which sick time accrual starts for the employee.
• Eligibility Based On: Criteria for using accrued sick time, such as a specific date or after working a certain number of hours.
• Eligible to Use Sick Time On: The date when the employee becomes eligible to use their accrued sick time.
• Reset Hours Each New Year: An option to reset accrued hours at the start of each new year.
• Max Total Hours: The maximum number of hours that can be accrued.
• Max Hours Accrued per Year: The maximum number of hours that can be accrued in a year.
• Max Hours Used per Year: The maximum number of accrued hours that can be used in a year.
• Max Hours Carried Forward per Year: The maximum number of unused hours that can be carried over to the next year.
• Minimum Hours per Use: The minimum number of hours that can be used in a single instance of taking leave.